lawsuits

3 Rules for Kick-Starting a Crowdfunded Business

Crowdfunding -- in which several investors put up cash for a project or business idea posted to the Web -- has become a major source of capital for start-up entrepreneurs. But just because you can go to the Web to raise seed money fast doesn't mean you should, or that it'll be easy.

Lawyers' Carelessness Was Key to the Mortgage Mess

As multiple lawsuits and SEC actions progress in relation to the nation's mortgage mess, it's becoming clear that the misbehaviors of the lawyers involved at all stages were not isolated incidents: The misconduct was systemic, and it's time to start holding those lawyers accountable.

Glaxo Faces First of Many Possible Avandia Trials

Did GlaxoSmithKline's blockbuster diabetes drug Avandia cause fatal heart attacks? The first federal trial of an Avandia lawsuit began this morning in Philidelphia. As many as 50,000 more lurk in the wings.

Allstate Sues Bank of America Over Toxic Securities

Allstate is suing Bank of America and its Countrywide Financial division over Countrywide's sale of $700 million in mortgage-backed securities to the insurance giant, alleging that Countrywide knew in advance that the assets would drop in value because of a high percentage of defaults.

Toyota's Latest Recall: 94,000 Sienna Minivans

The beleaguered Japanese carmaker is sending notices to Sienna owners to warn them of brake-light switch brackets that are susceptible to damage and could lead to eventual loss of braking effectiveness. No accidents relating to the defect have been reported.

Wyeth Loses Appeal Over Hormone Replacement Drugs

Wyeth Pharmecuticals on Wednesday lost its appeal of a decision that awarded $58 million in damages to three women who claimed the company's hormone-replacement drugs caused their breast cancer.

Toyota Wants Lawsuits Thrown Out

=Toyota has asked a federal court to dismiss lawsuits seeking damages related to the recall of millions of vehicles for possible unintended acceleration. The automaker has a simple argument: No one has ever demonstrated what is wrong with Toyota's cars, if anything.

N.Y. Court: You Still Can't Sue Lawyers for Clients' Fraud

New York's highest court just gave a big gift to accountants, lawyers, and any other outside professional in a position to detect fraud at one of their corporate clients: The court ruled that shareholders still can't sue them for failing to detect the fraud.

Judge Approves $600 Million Botox Settlement

A federal investigation into Allergan's misleading marketing of its wrinkle-smoothing Botox medication is over after a judge in Georgia on Tuesday approved the pharmaceutical firm's decision to pay $600 million and plead guilty to misbranding the product.

Philly Scandal Puts Spotlight on Public Housing's Problems

Carl Greene ran the Philadelphia Housing Authority for years with little oversight, until recent revelations about a series of scandals from sexual harassment to financial mismanagement landed him in hot water. But Greene's misdeeds may be just a symptom of the problematic culture of U.S. housing authorities.

BP Faces a $10 Billion Refinery Lawsuit

BP may have finally succeeded in plugging the worst oil leak in U.S. history, but its troubles are far from over. Thousands of Texas City, Tex. residents have joined a potential $10 billion class-action lawsuit against the U.K.-based oil company for failing to notify them about a leak at its Texas City refinery, which spewed roughly 500,000 pounds of pollutants into the air between April 6 and May 16.